ADT 2012 Annual Report Download - page 61
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Description Change-in-Control
Other Terminations (not Change-in-
Control)
Prorated bonus in year of
termination:
Yes, payable at target. At the Company’s discretion and
subject to applicable performance
conditions and other incentive
plan terms.
Equity treatment(1): Substantially all of the individual
equity awards for our named
executive officers provide that,
upon a change in control (and,
with respect to awards granted in
fiscal year 2009 and thereafter,
upon a termination event):
• All options and RSUs vest in
full.
• All performance-based units
vest at target.
• Options remain exercisable
until the earlier of (i) the
expiration of the remainder
of their term and (ii) up to
three years following the
executive’s termination date.
Upon an involuntary termination
without Cause: Awards granted
prior to Oct. 12, 2011:
• All unvested RSUs and stock
options are forfeited unless
the executive is retirement
eligible, in which case all or a
portion of the shares vest. For
stock options, the executive
receives one additional year
of vesting.
• Performance share units are
forfeited unless the executive
is retirement eligible, in which
case all or a portion of the
shares vest and remain subject
to performance criteria.
Awards granted on and after
Oct. 12, 2011:
• All unvested RSUs and stock
options are forfeited unless
the executive is retirement
eligible, in which case
awards vest pro rata based on
the number of full months of
service completed from the
grant date through the
termination date.
• Executive receives one
additional year of option
vesting.
• Performance share units are
forfeited unless the executive
is retirement eligible, in which
case all or a portion of the
shares which vest remain
subject to performance criteria.
For all awards, the executive has
12 months (or in the case of
retirement eligible employees,
36 months) to exercise vested stock
options, subject to original term.
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